European markets are expected to start on a negative note.
The Euro was under pressure against its major counterparts. In Europe, euro-zone M3 money supply was up 1.1% YoY in March after a 1.3% advance in February. Economists anticipated a 1.4% increase. Euro-zone consumer confidence was -8.6 in April in final estimation vs -8.7 in first reading. It was -9.3 the month before. French consumer confidence index decreased to 85 in April vs 88 the month before. Economists anticipated the index to be flat. German consumer prices were down by 0.2% in April after a 0.3% increase the month before. Consensus anticipated a 0.1% decline. German GfK advanced consumer confidence indicator was flat at 8.5 for May, as expected.
Gold was about flat to $1296.4. The precious metal was below its 20D MA (@ $1300) and below its 50D MA (@ $1319).
Copper Future (JUL 14) on Comex was down 1.8c to 307.5c/lb. The contract was above its 20D MA (@ 300.44c) and below its 50D MA (@ 310.7c). In Europe, the London Metal Exchange reported its copper inventories decreased 1925 tons to 235075 tons.
Today's Economic Events
FR 07:45: MAR Producer Price Index (MoM): NA
GE 08:55: APR Unemployment Change (Thsd): -10
GE 08:55: APR Unemployment Rate: 6.7%
US 13:30: 4Q GDP (QoQ): 1.2%
US 13:30: 4Q GDP Price (QoQ): 1.6%
US 13:30: 4Q Personal Consumption: 1.9%
US 14:45: APR Chicago Purchasing Manager Index: 57
US 15:30: W16 Crude Oil Inventories (WoW chg): 1100
US 19:00: Fed: Rates decision: 0.25%